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Self-Driving Car Services

Trov, a startup, and Munich Re will insure Waymo's self-driving car service riders.

Trov, an on-demand insurance startup, intends to offer trip insurance to passengers who use Waymo's soon-to-be-launched self-driving ride-hailing service.

Waymo, formerly Google's self-driving car project, intends to launch a commercial ride-hailing service for the general public in Phoenix beginning in 2018. (Alphabet Inc. is Google's corporate parent.)

Trov initially focused on assisting individuals in insuring their possessions such as cameras and sports equipment through its platform, which allows users to turn coverage on and off with a swipe of a finger on a smartphone.

Trov intends to provide trip insurance tailored to the service's users. The coverage will be underwritten by a non-admitted affiliate of Munich Re, whose venture capital arm has invested heavily in Trov. According to the app developer, the policies will cover lost property, trip interruption, and medical expense reimbursement resulting from rides.

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Creating a New Insurance Company: Super Regional State Auto Goes Digital for Real Estate

Many property/casualty insurers are talking about digital transformations these days, but the transformation underway at a midsized super regional carrier in Columbus, Ohio, is unique, according to the carrier's executives. “Ours is a real one,” Michael LaRocco, chair and CEO of State Auto Insurance Companies, told Carrier Management in an early November interview. “As other people talk about it, we're actually doing it,” he said, referring to an 18-month effort to build a separate greenfield platform for new policyholders that will be completely paperless...

5 Auto Insurance Trends to Watch in 2018

Auto insurance is undergoing its most seismic shift since its inception more than a century ago. If 2017 shook the industry by seeing an increase in the number of carriers adopting mobile telematics programs for UBI, 2018 will be a game changer. Carriers will use data to put the customer first and foremost, with the goal of creating delightful experiences. UBI 2.0 will enable carriers to create these experiences by leveraging data in novel ways, and a new data-driven claims experience will emerge. The hype surrounding the connected car will remain just that – hype. And, in order to combat the tragic distracted driving trends, consumers, insurers, and regulators will implement radical new ideas.

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